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February US iGaming and Poker Monthly Revenue Down

Written by Jennifer Newell
Last updated on
Jennifer Newell

February just wasn’t a great month for online gambling – not for online poker or even for online slots and table games. To be fair, February is never a great month for this industry. The freshness of the new year has worn off for many players, taking some of the determination and dedication down with it. It’s still cold or the weather not ideal in most parts of the United States. And to top it all off, it is the shortest month of the year.

In 2022 in particular, the economy has been bad. Gas prices have been soaring in 2022, and a tough economy means entertainment spending suffers.

Monthly numbers fell in almost every case. However, most of the states showed annual growth.

It should go without saying at this point that there is still no expanded interstate poker. Pennsylvania and Michigan have still not signed on to the multistate poker agreement. But there are signs that progress is happening (scroll to bottom).

The biggest news of late is that WSOP will launch its online poker site in Michigan in the coming days.

Delaware: February 2022

Delaware’s internet gaming market had a worse February than most. Not only did it see serious monthly revenue decreases across the board, online poker and table games also decreased year-on-year. The only reason the total igaming revenue grew from February 2021 to 2022 was due to a solid increase in video lottery sales. That boosted the overall number.

–February 2022 online poker rake & fees: $32,280.66

–January 2022 online poker: $41,468.25

–February 2021 online poker: $39,193.27

Month-on-month: 22.2% decrease

Year-on-year: 17.4% decrease

–February 2022 igaming revenue: $843,246.66

–January 2022 igaming: $1,121,345.34

–February 2021 igaming: $751,291.18

Month-on-month: 24.8% decrease

Year-on-year: 12.2% increase

As for the number of new registrants, that number dipped in January, too. The 840 new accounts created a monthly decrease of 3.3%, though it was up for the year 7.4%

Michigan: February 2022

In the second month of the second year of Michigan’s igaming industry, the year-on-year numbers are still showing substantial growth. And the monthly increases are still building, despite the trend for February in other states.

As usual, there is no breakout of online poker from the rest of the igaming revenue, so we cannot track that vertical. WSOP did confirm to Online Poker Report that it will launch its online poker site in Michigan on Monday, March 28. This will be a significant advancement for the online poker sector, but we won’t know the exact effect on the market.

–February 2022 internet gaming gross receipts: $121,243,501.22

–January 2022 igaming: $122,775,924.47

–February 2021 igaming: $79,729,343.32

Month-on-month: 1.3% increase

Year-on-year: 54% increase

The state gaming tax payment from internet sites was more than $21.6M in February, a substantial 12.9% increase from January.

Nevada: February 2022

There is still only one online poker site regulated by the state of Nevada. Therefore, Nevada does not report its online poker revenue, so the WSOP does not reveal numbers to the public.

New Jersey: February 2022

As expected, New Jersey saw some revenue dips in February. Poker was down for the month and the year, though igaming as a whole grew year-on-year.

–February 2022 internet poker win: $2,227,560

–January 2022 internet poker: $2,557,789

–February 2021 internet poker: $2,480,910

Month-on-month: 12.9% decrease

Year-on-year: 10.2% decrease

–February 2022 internet gaming win: $129,976,091

–January 2022 internet gaming: $137,849,716

–February 2021 internet gaming: $93,799,337

Month-on-month: 5.7% decrease

Year-on-year: 38.6% increase

The entirety of New Jersey’s gambling industry fell from January as well, though only 2.2%, but the whole market grew 29.5% year-on-year.

Pennsylvania: February 2022

The trend continued for Pennsylvania, as it, too, experienced monthly revenue decreases across the board. The yearly numbers were better, though, with sizeable increases from 2021 for all igaming sectors.

–February 2022 internet poker revenue:  $2,881,123

–January 2022 internet poker:  $3,390,093

–February 2021 internet poker:  $2,520,078

Month-on-month:  15% decrease

Year-on-year:  14.3% increase

–February 2022 internet gaming revenue:  $108,310,642

–January 2022 internet gaming:  $102,111,404

–February 2021 internet gaming:  $80,413,132

Month-on-month:  5.4% increase

Year-on-year:  31.66% increase

The whole gambling industry in Pennsylvania fell 4.4% from January to February, though year-on-year revenue grew 24.4%.

Interstate Debate Update

Last month’s update was better than nothing but changed little. Michigan was confused about it, and New Jersey was reviewing Michigan’s concerns.

This month’s information is more encouraging. Pokerfuse reported that Michigan submitted its proposal for joining the multi-state online poker pact – officially known as the Multi-State Internet Gaming Agreement (MSIGA) – to the three states that already belong. New Jersey, Delaware, and Nevada are reviewing it.

Delaware told Pokerfuse that it is reviewing it, as is Nevada. The Michigan Gaming Control Board awaits word from those states and Delaware regarding approval. Once that happens, they can move forward with coordinating their internal controls and look toward an official date of launch.

For now, BetMGM on the partypoker platform and PokerStars will benefit by joining their New Jersey and Michigan poker player pools. However, as mentioned above, the WSOP is planning to launch its site in Michigan in the coming days. It will, therefore, be wanting to connect Michigan to its already-shared network between New Jersey and Nevada.

There is no word as to Pennsylvania’s desire to be included in this poker sharing process.

 

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